UFP Industries (NASDAQ:UFPI) Downgraded by Zacks Research to “Strong Sell”

UFP Industries (NASDAQ:UFPI) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Tuesday, Zacks reports.

Other analysts also recently issued reports about the stock. DA Davidson reissued a “buy” rating and set a $105.00 price target on shares of UFP Industries in a report on Tuesday, October 27th. Stifel Nicolaus set a $85.00 price objective on shares of UFP Industries and gave the company a “hold” rating in a report on Monday, October 26th. Oppenheimer started coverage on shares of UFP Industries in a report on Wednesday, September 30th. They issued a “market perform” rating for the company. Finally, Weiss Ratings downgraded shares of UFP Industries from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, October 12th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $103.25.

UFP Industries Trading Up 6.3%

UFP Industries stock opened at $86.31 on Tuesday. The firm has a market cap of $4.76 billion, a PE ratio of 20.95 and a beta of 1.14. UFP Industries has a 12 month low of $73.72 and a 12 month high of $118.00. The stock’s 50 day simple moving average is $80.43 and its two-hundred day simple moving average is $89.36. The company has a current ratio of 3.86, a quick ratio of 2.58 and a debt-to-equity ratio of 0.07.

UFP Industries (NASDAQ:UFPI) last posted its earnings results on Wednesday, October 28th. The construction company reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.15). The firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.60 billion. UFP Industries had a net margin of 3.61% and a return on equity of 7.53%. Analysts anticipate that UFP Industries will post 4.26 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Keybank National Association OH purchased a new position in shares of UFP Industries during the 3rd quarter valued at approximately $313,000. Fulcrum Asset Management LLP acquired a new stake in UFP Industries in the 3rd quarter valued at $81,000. Heritage Family Offices LLP acquired a new stake in UFP Industries in the 3rd quarter valued at $79,000. Covestor Ltd increased its holdings in UFP Industries by 32.2% in the 3rd quarter. Covestor Ltd now owns 1,059 shares of the construction company’s stock worth $82,000 after acquiring an additional 258 shares in the last quarter. Finally, Markel Group Inc. increased its holdings in UFP Industries by 250.0% in the 3rd quarter. Markel Group Inc. now owns 14,000 shares of the construction company’s stock worth $1,081,000 after acquiring an additional 10,000 shares in the last quarter. 81.81% of the stock is owned by institutional investors and hedge funds.

UFP Industries Company Profile

UFP Industries, Inc is a diversified manufacturer and distributor of wood, composite and other products serving the retail, construction and industrial markets. The company supplies materials and components used in outdoor living, residential and commercial construction, manufactured housing, packaging and a range of industrial applications.

Its products include treated lumber, decking, fencing, landscaping products, roof trusses, wall panels, wood components, pallets, crates, specialty packaging and other custom-engineered products.